Luxembourg Multifactor and Capital Productivity: OECD Member: Annual
LU: Multifactor Productivity: Capital Stock Output Ratio: % Point Contribution to Labour Productivity Growth
LU: Multifactor Productivity: Capital Stock Output Ratio: % Point Contribution to Labour Productivity Growth data was reported at -2.420 % in 2022. This records a decrease from the previous number of -1.734 % for 2021. LU: Multifactor Productivity: Capital Stock Output Ratio: % Point Contribution to Labour Productivity Growth data is updated yearly, averaging 0.284 % from Dec 1996 to 2022, with 27 observations. The data reached an all-time high of 3.281 % in 2007 and a record low of -6.553 % in 2008. LU: Multifactor Productivity: Capital Stock Output Ratio: % Point Contribution to Labour Productivity Growth data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.PDB: Multifactor and Capital Productivity: OECD Member: Annual. Growth in multifactor productivity (MFP) is measured as a residual, i.e. that part of GDP growth that cannot be explained by growth in labour and capital inputs. Traditionally, MFP growth is seen as capturing technological progress but, in practice, this interpretation needs some caution. First, some part of technological change is embodied in capital input, e.g. improvements in design and quality between two vintages of the same capital asset, and so its effects on GDP growth are attributed to the respective factor. MFP only picks up disembodied technical change, e.g. network effects or spillovers from production factors, the effects of better management practices, brand names, organizational change and general knowledge. Second, data and resource constraints hamper a precise measurement of labour and capital input, affecting MFP. Moreover, MFP also captures other factors such as adjustment costs, economies of scale and effects from imperfect competition.
| Last | Frequency | Range |
|---|---|---|
| -2.420 2022 | yearly | 1996 - 2022 |